Image Source: PixabayElliott Wave Analysis TradingLounge Daily ChartCardano / U.S. dollar(ADAUSD)ADAUSD Elliott Wave Technical Analysis Function: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave ((1))Direction Next higher Degrees: wave I of ImpulseWave Cancel invalid level: Details: the five-wave Increase of wave ((1))Cardano / U.S. dollar(ADAUSD)Trading Strategy:
Cadano’s outlook looks like the Wave 1 rally is likely to end. The price is entering a correction in Wave 2, likely to test the 61.8%(0.365) level of Wave 1 before rising again in Wave 3. So wait for the correction to complete for an opportunity to join the trend again.Cardano / U.S. dollar(ADAUSD)Technical Indicators:
The price is below the MA200 indicating a Downtrend. The Wave Oscillator is a Bullish Momentum.
Elliott Wave Analysis TradingLounge H4 ChartCardano / U.S. dollar(ADAUSD)ADAUSD Elliott Wave Technical Analysis Function: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave ((1))Direction Next higher Degrees: wave I of ImpulseWave Cancel invalid level: Details: The rally in Wave 1 is likely to end, watch out for a correction in Wave 2.Cardano / U.S. dollar(ADAUSD)Trading Strategy:
Cadano’s outlook looks like the Wave 1 rally is likely to end. The price is entering a correction in Wave 2, likely to test the 61.8%(0.365) level of Wave 1 before rising again in Wave 3. So wait for the correction to complete for an opportunity to join the trend again.Cardano / U.S. dollar(ADAUSD)Technical Indicators:
The price is below the MA200 indicating a Downtrend. The Wave Oscillator is a Bearish Momentum.Technical Analyst: Kittiampon SomboonsodSource: Tradinglounge.com
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